Suntory Shows Caution on IPO Price

By

Hiroyuki Kachi

June 17, 2013 7:19 a.m. ET

TOKYO—On the heels of recent turbulence in Japan's equity markets, Suntory Beverage & Food Ltd. on Monday struck a cautious tone for the country's biggest initial public offering this year by setting a tentative price range at or below its earlier suggested price.

The up-to-$5 billion share offering for the subsidiary of Suntory Holdings Ltd., due to list July 3, will be a test of confidence for the nation's IPO market. Suntory made plans for the offering while Japan's stock markets were booming late last year, only...